NEW YORK (Reuters) – A U.S. judge on Friday denied Sam Bankman-Fried’s push to get a law firm that advised his now-bankrupt FTX cryptocurrency exchange to hand over documents he says can help him beat fraud charges. The onetime billionaire, who has pleaded not guilty to charges of stealing from FTX customers and lying to…
BERLIN (Reuters) – Germany aims to purchase 60 Chinook helicopters from Boeing in a package that would cost up to 8 billion euros ($8.71 billion), including necessary infrastructure for the aircraft, a parliamentary source told Reuters on Friday. The sum includes the procurement of the CH-47 heavy-lift helicopters for 6.27 billion euros, 700 million euros…
By Caroline Valetkevitch NEW YORK (Reuters) – Forecasts for second-quarter U.S. earnings still look gloomy after a much-better-than-feared first quarter season as the likelihood of further interest rate hikes this year creates more potential risks for companies. Analysts expect earnings for S&P 500 companies to fall 5.6% in the second quarter from a year ago,…
FRANKFURT (Reuters) – Germany’s Commerzbank said on Friday that it would book another provision of 342 million euros ($372.27 million) following a court ruling on how banks treat Swiss franc loans in Poland. The new figure means that Commerzbank, which has extensive operations in Poland through its mBank, has provisioned or made payouts of more…
By Trevor Hunnicutt WASHINGTON (Reuters) – U.S. President Joe Biden will deliver what his aides are billing as a major economic policy speech on Wednesday, laying down a key marker for his re-election campaign. Plans for a speech in Chicago on “Bidenomics,” which have not previously been reported and were seen in a White House…
(Corrects story and headline to say makers pledge $11.3 billion, not $14.3 billion for lithium iron phosphate plants) By Paul Lienert (Reuters) – Interest and investment in lithium iron phosphate (LFP) battery cells and materials, used to power electric vehicles, continue to climb in the United States. LFP is a lower-cost competitor to nickel cobalt…
(This June 22 story has been corrected to say makers pledged more than $11 billion, not $14 billion, in paragraph 3) By Paul Lienert DETROIT (Reuters) – As the auto industry scrambles to produce more affordable electric vehicles, whose most expensive components are the batteries, lithium iron phosphate is gaining traction as the EV battery…
(Reuters) – The U.S. Supreme Court has issued a number of important rulings during its current term that began last October and is expected to decide its remaining cases by the end of June including disputes involving race-conscious college admissions practices, President Joe Biden’s student debt forgiveness plan and LGBT rights. Here is a look…
(Reuters) -Thyssenkrupp and Industrie De Nora pushed ahead with the planned initial public offering (IPO) of their hydrogen joint venture Thyssenkrupp Nucera on Friday, setting the price range at the lower end of expectations. The IPO will be the first in Germany since February, when shares in web hosting company IONOS debuted in Frankfurt, as…
By Shreyashi Sanyal, Bansari Mayur Kamdar (Reuters) -European shares dipped on Friday at the end of a central bank policy-packed week that reinforced views that interest rates could stay higher for longer, while shares of Siemens Energy plunged as it withdrew its annual profit outlook. The STOXX 600 index closed 0.3% lower after data showed…
